'Deck stacked against' MetLife appeal on Sifi status

Insurer faces uphill battle to reverse FSOC decision

US insurer MetLife will struggle to overturn its preliminary designation as a non-bank systemically important financial institution (Sifi), according to lawyers.

On September 4, the Financial Stability Oversight Council (FSOC) voted to make a proposed determination on MetLife as a Sifi. The company now has 30 days to appeal to the FSOC to reverse its decision before a final vote is formally taken to add it to the list of non-bank systemically important firms, which currently includes insurers AI